Godrej family arm Anamudi Real Estates to divest 5% stake in Sobha Ltd

Godrej sells stake: Anamudi Real Estates, part of the Godrej family conglomerate, plans to offload a 5 per cent stake in Sobha Ltd, valued at approximately Rs 1,000 crore based on current market prices, according to sources.

Currently, Anamudi Real Estates holds a 9.99 per cent stake in the Bengaluru-based real estate developer, Sobha Ltd. With a market capitalisation of around Rs 20,000 crore, Sobha Ltd’s total valuation highlights its prominence in the sector.

Anamudi Real Estates owns 1,06,84,682 shares of Sobha Ltd. Godrej family has engaged bankers to facilitate the sale of half of this stake, according to the PTI report.

The sale is expected to occur on Friday through a block deal on the stock exchanges.

Sobha Ltd, a major player in India’s real estate market, recently secured Rs 2,000 crore through a rights issue.

(With PTI Inputs)